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SMICY - Semiconductor Manufacturing International: Still My Top China Stock Pick Despite Short-Term Headwinds
Semiconductor Manufacturing Intl Co ADR
U.S. sanctions on SMIC have negatively impacted the stock amid increasing pressure from the Trump administration to block equipment sold to the company.
Although a headwind, demand from China to become self reliant in making its chips is so great it will overshadow these short-term limitations.
Whether these sanctions will last into the Biden administration is unknown, but SMIC's n+1 process will offer performance close to TSMC's at 7nm.